Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at January 31, 2024 was $56.94, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 2.4% and 9.4%, respectively. These compare with the 0.6% and 4.6% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at January 31, 2024, the leverage represented 14.7% of CGI’s net assets, down from 15.1% at the end of 2023 and up from 13.6% at January 31, 2023.
The closing price for CGI’s common shares at January 31, 2024 was $35.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 3.1% and 9.7%, respectively.
The sector weightings of CGI’s investment portfolio at market as of January 31, 2024 were as follows:
| Industrials | 24.1 | % |
| Information Technology | 21.2 | % |
| Financials | 13.5 | % |
| Energy | 12.1 | % |
| Consumer Discretionary | 10.7 | % |
| Materials | 10.3 | % |
| Real Estate | 4.6 | % |
| Communication Services | 1.9 | % |
| Cash & Cash Equivalents | 0.8 | % |
| Consumer Staples | 0.8 | % |
The top ten investments which comprised 37.7% of the investment portfolio at market as of January 31, 2024 were as follows:
| NVIDIA Corporation | 5.9 | % |
| Canadian Pacific Kansas City Limited | 4.6 | % |
| TFI International Inc. | 4.5 | % |
| Apple Inc. | 3.5 | % |
| The Descartes Systems Group Inc. | 3.5 | % |
| WSP Global Inc. | 3.4 | % |
| West Fraser Timber Co. Ltd. | 3.3 | % |
| Mastercard Incorporated | 3.2 | % |
| Franco-Nevada Corporation | 3.1 | % |
| Shopify Inc. | 2.7 | % |
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail:
website:
